The Federal Inland Revenue Service (FIRS), Joint Tax Board (JTB) and the Small and Medium Enterprises Development Agency (SMEDAN) have sensitised Business Membership Organisations (BMOs) on tax payment and their rights as taxpayers, in a move aimed at stimulating the economy. The Executive Chairman of FIRS and Chairman, JTB, Tunde Fowler, said the Micro, Small andRead More

Four four-star hotels in Lagos, Delta and Rivers states were among a group of 19 companies across Nigeria sealed by the Federal Inland Revenue (FIRS) over non-remittance of tax. The FIRS noted that the companies which range from hospitality outfits to oil and gas companies and manufacturing companies were sealed over their failure to fulfilRead More

The Federal Inland Revenue Service (FIRS) has lamented the lack of focus on issues of taxation by financial reporters in the country. The agency stated this at the commencement of a two-day training in Abuja for journalists on tax reporting, saying that it aimed at equipping them with relevant skills on accurate reporting of taxRead More

The Federal Inland Revenue Service (FIRS) and the Economic and Financial Crimes Commission (EFCC) have agreed their to track both individuals and organisations who refuse to pay the right taxes. The partnership will beam searchlights on defaulting taxpayers who also refused to rely on the Federal Government’s tax amnesty programme: Voluntary Assets and Income DeclarationRead More

The Corporate Affairs Commission (CAC) has opened a portal for people to search company or business name before registration. Acting Register-General of CAC Azuka Azinge revealed this on Wednesday in Lagos at the Quarterly Stakeholders’ Forum of the Commission. According to Azinge, the move is to make registration of businesses easier, revealing that businesses can nowRead More

The Corporate Affairs Commission (CAC) says it is committed to improving the country’s ease of doing business to drive economic rebound and growth. Lady Azuka Azinge, Acting Registrar-General, CAC, made the assertion during CAC Quarterly Customers’ Forum on Wednesday in Lagos. She said that the commission’s goal was to enable more businesses, especially for theRead More

Three revenue generating agencies of the federal government: Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Nigerian National Petroleum Resources (through the Department of Petroleum Resources) have all received cumulative sum of over N191.34 billion as cost of revenue collection in the last 14-months. The FIRS got N100.642 billion out of the wholeRead More

The Chartered Institute of Forensic and Investigative Auditors has called on the Federal Government to raise the audit standards in the country so as to curb the high level of fraud in the country’s financial system. The President of the institute, Victoria Enape, who said this in Abuja, noted that the move would inspire publicRead More

Recently the chairman, Lagos Internal Revenue Service, Mr Ayodele Subair, spoke about the technology application in the collection of the state’s consumption tax, saying it is targeted at improving efficiency while plugging leakages. Excerpts REFLECTING on your consumption tax you recently unveiled an e-payment platform. Can you shed more light on it? It’s an electronicRead More

As the tax amnesty under the Voluntary Assets and Income Declaration Scheme (VAIDs) ends on Saturday, some private sector players are said to be lobbying President Muhammadu Buhari to extend the amnesty period. An official at the Presidency, who craved for anonymity, told newsmen on Friday that governors and company owners had called the PresidentRead More